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Ethanol production rises on demand expectations, margins
Ethanol production hit a five-week high last week.
The U.S. Energy Information Administration says production averaged 1.111 million barrels per day. That was the highest since early April, up 29,000 on the week as seasonal maintenance winds down, and up 75,000 on the year thanks to demand expectations and margins.
Ethanol stocks of 24.875 million barrels were 5,000 higher than the previous week and 69,000 above a year ago.
The Renewable Fuels Association says net inputs of ethanol purchased by refiners and blenders and the volume of gasoline supplied to the market both saw modest week-to-week increases.
Ethanol exports averaged 149,000 barrels per day, falling 13,000 from the week before, but rising 55,000 from last year.
The USDA’s updated corn for ethanol use guess is out June 11th.
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